Last 27 quarters of trend data · Technology · Cloud & Data Centers
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -6.39 | — | — | — | — | 10.86 | 4.37 | — | — | — | — | 17.53 | — | — | — | — | — | — | — | — | 2.87 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 13.51 | 26.28 | 36.71 | 22.01 | 16.17 | 18.37 | 4.47 | 2.37 | 4.52 | 7.57 | 9.27 | 2.79 | 3.05 | 1.89 | 1.93 | 4.54 | 4.87 | 4.80 | 0.20 | 15.10 | 43.60 |
| — | +43.1% | +722.2% | +830.2% | +258.1% | +142.6% | -51.8% | -15.3% | +47.9% | +300.3% | +379.8% | -38.5% | -37.3% | -60.6% | +880.6% | -69.9% | -88.8% | — | — | — | — | |
| P/B Ratio | 1.63 | 3.18 | 3.96 | 4.29 | 4.48 | 5.90 | 1.79 | 0.93 | 1.61 | 1.41 | 1.92 | 0.89 | 1.36 | 0.85 | 0.86 | 0.54 | 0.25 | 0.50 | 0.41 | 2.41 | 2.50 |
| — | -46.0% | +121.0% | +359.6% | +179.0% | +317.3% | -6.7% | +4.4% | +18.1% | +66.1% | +122.3% | +66.7% | +454.5% | +70.0% | +112.4% | -77.7% | -90.2% | — | — | — | — | |
| P/FCF | — | 7.70 | — | — | — | — | 50.50 | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | 479.17 | 10.45 | 4.90 | 9.06 | — | 104.70 | 5.91 | 20.17 | 407.02 | — | — | — | — | — | 53.10 | 23.85 |
| — | — | — | — | — | — | -90.0% | -17.0% | -55.1% | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | 5.10 | — | — | — | — | 12.39 | — | — | — | — | — | — | — | 164.76 | 29.10 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.2% | 117.4% | 92.2% | 80.7% | 68.3% | 69.1% | 82.0% | 69.6% | 69.0% | 30.0% | 83.6% | 92.2% | 89.9% | 87.9% | 80.6% | 98.2% | 284.6% | 93.3% | 5.5% | 99.5% | 406.2% |
| — | +69.9% | +12.4% | +15.9% | -1.0% | +130.0% | -1.9% | -24.6% | -23.2% | -65.8% | +3.8% | -6.1% | -68.4% | -5.7% | +1359.0% | -1.3% | -29.9% | +5040.9% | +230.2% | +20.0% | +538.9% | |
| Operating Margin | -161.6% | -120.0% | -550.3% | -179.7% | -66.9% | -33.1% | 12.9% | 19.7% | 15.7% | -89.3% | -40.0% | 11.1% | -5.2% | -21.6% | -28.3% | -57.9% | -3760.6% | -608.7% | -3.8% | 10.1% | 119.9% |
| — | -262.8% | -4359.3% | -1013.1% | -525.4% | +63.0% | +132.3% | +77.2% | +401.2% | -313.6% | -41.5% | +119.2% | +99.9% | +96.5% | -637.5% | -674.8% | -3236.7% | -112074.3% | -360.9% | +120.7% | +480.3% | |
| Net Margin | -108.5% | -169.7% | -606.7% | -190.7% | -89.3% | 166.5% | 97.0% | -11.5% | -19.1% | -98.0% | -47.7% | 15.9% | -12.3% | -15.4% | -20.3% | -33.9% | -4227.7% | -709.0% | -7.9% | -19.4% | 1516.4% |
| — | -201.9% | -725.4% | -1562.0% | -366.8% | +269.8% | +303.4% | -172.0% | -55.7% | -535.5% | -134.8% | +147.0% | +99.7% | +97.8% | -158.3% | -74.3% | -378.8% | -810.9% | -105.4% | +83.0% | +3307.0% |
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -23.4% | -5.7% | -20.0% | -9.6% | -5.8% | 16.4% | 10.9% | -1.2% | -1.8% | -4.6% | -3.1% | 1.6% | -1.5% | -1.7% | -2.3% | -1.1% | -40.7% | -18.5% | -4.5% | -0.8% | 21.8% |
| — | -134.5% | -283.3% | -704.3% | -218.4% | +453.0% | +457.2% | -173.0% | -19.1% | -167.5% | -34.5% | +253.7% | +96.3% | +90.6% | +50.0% | -32.5% | -287.0% | — | — | +95.3% | +613.8% | |
| ROA | -7.5% | -1.4% | -5.9% | -3.5% | -2.8% | 10.7% | 7.2% | -0.8% | -1.4% | -4.2% | -2.9% | 1.5% | -1.3% | — | -2.1% | -0.8% | -34.9% | — | -3.1% | -0.5% | 18.9% |
| — | -113.5% | -182.8% | -312.6% | -97.0% | +351.2% | +348.5% | -155.5% | -11.5% | — | -38.3% | +284.5% | +96.4% | — | +33.7% | -61.5% | -285.0% | — | +95.5% | +87.0% | — | |
| ROIC | -10.6% | -1.5% | -5.0% | -2.7% | -1.7% | -1.7% | 0.8% | 1.2% | 1.0% | -3.2% | -1.9% | 0.9% | -0.5% | -1.8% | -2.4% | -1.1% | -23.4% | -10.6% | -1.4% | 0.3% | 7.5% |
| — | +12.4% | -740.4% | -318.0% | -273.8% | +45.3% | +140.6% | +45.5% | +303.7% | -74.2% | +18.7% | +174.8% | +97.9% | +82.9% | -73.4% | -512.7% | -411.0% | — | +12.8% | — | +494.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q1 '27 | Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.87 | 0.25 | 1.87 | 1.49 | 1.53 | 0.34 | 0.53 | 0.23 | 0.25 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.41 | — | 0.25 | 0.19 | 0.07 |
| — | -26.2% | +253.0% | +554.6% | +515.2% | +14484.5% | +43964.0% | +8867.7% | +6888.2% | — | -74.6% | -38.4% | -99.1% | — | -98.1% | -97.8% | +478.7% | — | — | -94.1% | — | |
| Debt / EBITDA | — | — | — | — | — | 109.47 | 11.04 | 4.32 | 5.92 | — | 0.33 | 0.12 | 0.25 | — | — | — | — | — | — | 17.46 | 3.41 |
| — | — | — | — | — | — | +3293.7% | +3603.4% | +2223.2% | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.55 | 1.60 | 3.55 | 3.72 | 4.96 | 5.52 | 4.29 | 0.46 | 0.94 | 1.09 | 8.86 | 7.47 | 3.38 | — | 3.72 | 3.72 | 0.53 | — | 1.88 | 4.98 | 12.61 |
| — | -71.1% | -17.3% | +704.5% | +428.0% | +407.3% | -51.5% | -93.8% | -72.2% | — | +138.3% | +101.0% | +534.2% | — | +97.4% | -25.4% | -95.8% | — | +496.1% | +674.6% | — | |
| Quick Ratio | 3.55 | 1.60 | 3.55 | 3.72 | 4.96 | 5.52 | 4.29 | 0.46 | 0.94 | 1.09 | 8.86 | 7.47 | 3.38 | — | 3.72 | 3.72 | 0.53 | — | 1.88 | 4.98 | 12.61 |
| — | -71.1% | -17.3% | +704.5% | +428.0% | +407.3% | -51.5% | -93.8% | -72.2% | — | +138.3% | +101.0% | +534.2% | — | +97.4% | -25.4% | -95.8% | — | +496.1% | +674.6% | — | |
| Interest Coverage | -6.46 | -2.58 | -5.92 | -6.29 | -7.94 | -6.48 | 34.56 | -1.70 | -9.97 | -2290.86 | -425.05 | 55.73 | -81.17 | -134.76 | -70.96 | -4.38 | -1.71 | -4.02 | -0.04 | 0.85 | 0.36 |
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Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying IREN stock.
IREN Limited's current P/E is -6.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
IREN Limited's current operating margin is -161.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking IREN Limited's business trajectory between earnings reports.